In spite of decline in sales of remaining 15 factories by US $30 million last month, all possible measures are taken in an effort to preserve the Commonwealth's apparel industry through the amendment of General Note 3(a) for all US insular areas.
The 'Insular Possessions Act of 2005' is expected to be introduced in Senate and House shortly, sources informed.
However, bill was not introduced in House in 2005 because of certain conflicts with a bill favoring the Central American Free Trade Agreement (CAFTA).
Last month, user fee payments reached about US $1.112 million, least since March 1995.
Moreover, collection of first month current financial year also decreased by 23 percent compared to same period of previous financial year.
Lack of orders has led to redundancy of workers and reduction in sales is due to less workforce.
Factories will be recovering rapidly if changes are brought in value-added requirement of 3(a), stable wages and CNMI was afforded a chance to use federal wage boards as in American Samoa.
In a meeting of staffers from the US Senate and Interior conducted last week, they indicated a chance to address trade and wage issues.
marketing@alchempro.com
